Budgets/Spending/Market Size

New York -- In-store convenience store sales grew 2.4%, reaching a record $195.0 billion in 2011, according to data released Wednesday by NACS (National Association of Convenience Stores). Combined with $486.9 billion in gasoline sales, total convenience store sales in 2011 were $681.9 billion.

More than 80% of in-store sales are from five categories: cigarettes (38.1% of in-store sales); foodservice (16.9%); packaged beverages (14.3%); beer (7.3%); other tobacco products (4.0%).

Beaumont, Texas -- Conn’s Inc. reported Tuesday that it earned $7.7 million in the quarter ended Jan. 31, compared with a loss of $3.6 million in the year-ago period.

Revenue increased 3.7% to $226.7 million, beating Wall Street’s expected $221.4 million. Same-store sales surged 12.1%.
   
The company said it is on track with its store opening plans, which calls for five to seven stores in new markets this year.

J.C. Penney is in the very beginning of its transformation. But the first component of the strategy — a new pricing model that jettisoned hundreds of promotions in favor a three-tier model — in already in place. And not surprisingly, experts are weighing in.

New York -- Consumer spending rose 0.8% in February, the Commerce Department said Friday. It was the biggest increase since July. However, the increase came as Americans' income barely grew, and the saving rate fell to its lowest point in more than two years.

Some of the higher spending last month reflected rising gas prices. But even after excluding inflation, which was due mainly to gas prices, spending rose a solid 0.5%.

New York -- Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

GOODLETTSVILLE, Tenn. — Nothing is slowing down Dollar General, which, shortly after reporting surging quarterly sales and profits, announced that it will open its 10,000th store in the United States. The store will be located in Merced, Calif., and is one the company's first stores in California.

New York -- Fashion retailer Cache reported Thursday that net income for the fourth quarter ended Dec. 31 was $1.9 million, compared with a loss of $14.2 million the year-ago period.

Sales surged 12.5% to $62.9 million, from $55.9 million in the fourth quarter of fiscal 2010. Same-store sales increased 12.4%.

Year to date the company has closed 12 underperforming stores and said it expects to close five more stores and open two in fiscal 2012.

Bentonville, Ark. -- Wal-Mart Stores chief merchandising officer Duncan MacNaughton said during a CIBC conference on Wednesday that Wal-Mart’s domestic sales momentum has continued over the last two months.

The world’s largest retailer registered a same-store sales rise of 1.3% in U.S. stores in the third quarter and a 1.5% increase in the fourth quarter.

Results reversed a nine-quarter streak of same-store sales declines.

According to MacNaughton, the momentum continued in February and March, as well.